[GNC] Sales items, Service items, Inventory items

[Michael or Penny Novack]

On 7/20/2024 6:30 PM, flywire wrote:
> GnuCash does have an inventory system but it has been
> increasingly customised to stock (shares not livestock). Inventory
> (businesses refer to it as stock) is a standard part of most business
> taxation systems and It has little to do with point of sale.

Huh?

Assume a retail business. A sale takes place. That is handled by POS 
which figures the transaction (what taxes applicable, etc. and sends a 
transaction to general ledger involving accounts cash, sales, tax 
liability, etc. (but not cost of goods sold). POS also sends a 
transaction to inventory to deduct the widget sold from stock. Inventory 
checks for actions that might result (time to reorder?) and also sends a 
transaction to general ledger for accounts inventory and cost of goods 
sold.

Still think POS and inventory have nothing to do with each other?

Notice that inventory would be doing a lot of non-money things. Like 
where (what bin to find them in), restock amount, who to order from, 
alternative suppliers, etc.

Michael D Novack